Wells Fargo & Company Issues Pessimistic Forecast for ConocoPhillips (NYSE:COP) Stock Price

ConocoPhillips (NYSE:COP) had its target price dropped by investment analysts at Wells Fargo & Company from $134.00 to $132.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the energy producer’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 25.18% from the stock’s current price.

Several other research firms have also commented on COP. UBS Group lowered their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Barclays boosted their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Truist Financial increased their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday. BMO Capital Markets boosted their target price on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Scotiabank reduced their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Buy” and an average target price of $136.65.

ConocoPhillips Stock Up 0.5 %

ConocoPhillips stock opened at $105.45 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The firm has a 50 day moving average price of $104.21 and a 200 day moving average price of $107.56. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The company has a market capitalization of $121.36 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 0.83 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the previous year, the business earned $2.16 EPS. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. Research analysts expect that ConocoPhillips will post 7.77 earnings per share for the current year.

Insider Transactions at ConocoPhillips

In other news, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Excalibur Management Corp grew its position in shares of ConocoPhillips by 2.4% during the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock worth $462,000 after acquiring an additional 96 shares during the last quarter. Cypress Capital Group grew its position in ConocoPhillips by 0.5% during the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after purchasing an additional 96 shares during the last quarter. Aprio Wealth Management LLC increased its stake in ConocoPhillips by 4.8% in the third quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock valued at $224,000 after purchasing an additional 97 shares during the period. MRP Capital Investments LLC raised its holdings in shares of ConocoPhillips by 4.3% in the second quarter. MRP Capital Investments LLC now owns 2,430 shares of the energy producer’s stock valued at $278,000 after buying an additional 100 shares during the last quarter. Finally, Godshalk Welsh Capital Management Inc. boosted its stake in shares of ConocoPhillips by 1.2% during the second quarter. Godshalk Welsh Capital Management Inc. now owns 8,751 shares of the energy producer’s stock worth $1,001,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.